COMPANIES

Record mogul David Geffen flatly denied reports that he and buyout specialists Kohlberg Kravis Roberts & Co. may make an offer for Paramount Communications Corp. “There is no truth to it,” said Geffen, who claimed to have no interest in Paramount. KKR and Paramount declined comment on the report of a possible deal valued at $72-$75 a share. Paramount stock, however, rose more than 10%, to $45-a-share in heavy trading. Analysts said the surge may have been driven by disgruntled Time Warner shareholders switching to New York-based Paramount.